Even with Sword and Board style, Power Attack and Cleave are very useful. Power Attack is useful anytime you need to hit something hard, like smashing a door down, sundering an enemy's weapon, or anything else.
Cleave is highly useful in the low levels of the game, when large numbers of 1 hit dice enemies roam about.
My optimum 3rd level Dwarven Fighter would be:
Racial Substitution Levels: 1st and 2nd Races of Stone Dwarven Fighter
1st level Feat: Power Attack
3rd level Feat: Cleave
1st level Fighter Substitution: Axe Focus: +1 to hit with all Axes
2nd level Fighter Substitution: Racial Enemies: +2 to damage against goblinoids, orcs, and giants
Weapon: Dwarven Waraxe, or whatever magic axe you can find
Armor: Full Plate and Large Shield (magical if you can get it)
For 4th level fighter feat, I'd pick up either Weapon Specialization (if you have a magic weapon you plan to keep for a long time) or Great Cleave (really mow down the enemy minions)